OREANDA-NEWS In November, Russians' demand for dollars and euros reached almost maximum values, during the month they bought 160 billion rubles worth of currency, which is one third more than in October. Kommersant writes about this with reference to the review of financial market risks from the Central Bank.
According to Mikhail Korolyuk, head of the trust management department of the Solid investment company, in this way citizens made it clear that they consider the strengthening of the ruble to be a temporary phenomenon. At the same time, he called such a strategy not the most thoughtful step, because at any moment the Moscow Exchange may fall under sanctions, and it is unknown what will happen to the assets.
"People who buy the dollar do not believe that the exchange rate will be maintained. But if I had the idea to speculate on the dollar, I would buy futures," the expert explained. Korolyuk added that no one knows if the dollars are really left on the Moscow Exchange.
As of December 8, the dollar is in the range of 91-92 rubles, which is higher than November values, but it is still far from the highs of September and October. Economist Sergey Khestanov believes that no serious shocks can be expected before the end of the year.
An increase in the key rate, which the market expects, may play in favor of the ruble, while the dynamics of oil prices remains a minus. In the last week, they lost more than ten percent, and the Russian Urals variety began to sell cheaper than the price ceiling.
The central bank explains the new weakening of the ruble by the end of the tax period and purchases of foreign currency to pay for imports, which still have to be bought mainly in the currencies of unfriendly states.
Rate this article: